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Saturday, October 02, 2010

Beware the Flaw of Averages

I see that Sam L Savage's: The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty is now out. He is a very well known teacher in the space of quant based decision making. I look forward to reading it in its entirety. Bottom line, don't use averages alone in decision making. It is often done that way in the enterprise.

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